Wealth Management
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The first main theme is investments and covers security types, investment strategies, and asset allocations for individual investors. The foundation for this theme is the magical behavior of investment returns across securities and time, and the concept of market efficiency.
Next, the author details tax minimization, beginning with an understanding of how taxes deplete investment value. He then illuminates various tax loopholes and strategies that individuals can exploit, including:
- the use of tax-favored investment accounts,
- opportunistic trading,
- picking ETFs over mutual funds,
- gifting to bypass estate taxes.
Lie also covers the many pitfalls in the world of wealth management. Several stem from investors’ ignorance or irrational behavior, while others are concocted by financial institutions to fleece individual investors. Either way, the readers learn to avoid them.
Other topics also discussed include:
- What types of insurance should individuals purchase?
- When should a mortgage be refinanced?
- And how can individuals avoid costly probate court for the estate?
This book is useful for university courses on wealth management and for all individuals who want to secure their financial future. This includes you.
The author created teaching slides for instructors who adopt this book. Please email marketing@businessexpertpress.com to request these ancillary materials.
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Erik Lie is the Amelia Tippie Chair in Finance at the University of Iowa. He has published widely in top academic journals and has been recognized by Time magazine as one of the 100 most influential people in the world. In recent years, he has developed and taught courses on wealth management and served as an expert witness in lawsuits related to financial advising.
